Chairman of the Palestinian Businessmen Association in the Gaza Strip Ali al-Hayek on Saturday said that only 10% of Gaza’s private sector facilities are still operating normally in view of the Israeli blockade continuing for the 12th year in a row.
Al-Hayek said in a press statement that the private sector is no longer able to withstand more economic crises.
He added that most industrial and commercial facilities in Gaza are partially or completely suspended and need urgent support noting that about 80% of Gaza employees work for the private sector.
In light of the presence of 380000 jobless workers and 220000 unemployed graduates al-Hayek said efforts should be focused on financially supporting existing enterprises and reactivating international development projects.
Al-Hayek expressed his hope that Egypt’s efforts to achieve Palestinian reconciliation will succeed because this would effectively help improve the economic situation in the Gaza Strip.
The Palestinian official called for immediate intervention at the local and international levels to alleviate the economic and humanitarian crisis in the Gaza Strip which is accompanied by unprecedented rates of unemployment poverty and food insecurity.
